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 Post subject: Sri Lanka to Explore Offshore Oil
 Post Posted: Tue Apr 12, 2005 5:59 pm 
Sri Lanka Plans Offshore Oil Blocks


Tuesday April 12, 2:04 am ET
@ Associated Press


Report: Sri Lanka to Offer Offshore Blocks for Oil Exploration by Mid 2006

COLOMBO, Sri Lanka (AP) -- Sri Lanka plans to offer offshore blocks for oil exploration by the middle of 2006 if a study being carried out by a Norwegian company proves positive, a newspaper reported Tuesday.
Norway's TGS-NOPEC Geophysical Co is likely to submit its report by June.

The Daily Mirror quoted Saliya Wickremasooriya, the chairman of the Board of Investment, that the country must make serious efforts to explore oil reserves if it wants to maintain economic growth. The Sri Lankan government has been keen on pushing ahead with its oil exploration plans to reduce its dependance on crude oil imports.

The Norwegian company conducted an initial survey in 2001 off Sri Lanka's northwestern coast to assess offshore oil prospects, and the results showed evidence of small reserves.

The current survey covers about 4,000 square kilometers (1,600 square miles) off Sri Lanka's northwest coast.


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